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2022-03-31-accounts

Trustees’ Report

Annual Report and Accounts April 2021 to March 2022

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~~Because every day matters~~ www.hospiscare.co.uk Registered charity no. 297798

www.hospiscare.co.uk |

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Trustees’ Report

Welcome

to Hospiscare’s Annual Report and Accounts for 2021-2022.

| Because every day matters

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Andrew Randall, Chief Executive
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Joining me in welcoming you to our combined Directors’ and Trustees’ Annual Report incorporating the Strategic Report and Financial Statements is Brian Aird, our new Chair of Trustees. Brian joined our Board in March 2022, picking up the r��ns from Dr Helen Enright who has so brilliantly steered our charity for the past 12 months. From all of us here at Hospiscare, we extend our thanks to Helen.

Despite the challenges of the last two years, we have continued to provide our specialist end-of-life care across the heart of Devon. As a healthcare charity that cares for people at such a vulnerable time in their lives, we have continued to keep strict COVID-19 restrictions in place across our sites and when visiting patients at home.

Despite the pressures caused by the pandemic, we also have much to celebrate. We have benefitted from a grant that has enabled us to establish a permanent Clinical Co-ordination Centre, turning a temporary response to the pandemic into a dedicated hub for patients, family members and healthcare professionals to access advice and support.

2022 gives us further cause for celebration as it is a special year for our charity, marking 40 years of caring in the heart of Devon. Our hospice has grown in so many ways since its founding in 1982 by Dr John Searle and we are so grateful to everyone who has been a part of our journey.

continue to pull together to support each other and Hospiscare as a whole. The response to our ‘Save our Services’ appeal demonstrates this dedication as, thanks to our community, we reached our £1 million target and secured our services for the year ahead.

history, we would like to sincerely thank our wonderful teams of staff and volunteers, as well as every person, group, organisation, business and trust for supporting us every step of the way. Together, we will continue to deliver the vital end-of-life care that our local communities of Exeter, Mid and East Devon need.

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Brian Aird, Chair of the Board of Trustees
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I am delighted to have been appointed the new Chair of Trustees at Hospiscare. This follows a long career in the healthcare sector where I have had the privilege of being CEO of an NHS Trust and also held positions on a number of Boards, including the Royal Devon & Exeter.

Management Team is to work together to create our new three-year strategy with our mission, vision and values at the centre. This will focus on four key pillars: patient services, financials, infrastructure and people and culture and will be available from early 2023.

Financially, we have prepared for the possibility of a further three year deficit and one of our key aims will be working towards a sustainable budget over the long term. Due to the hard work of our teams, we have been fortunate to secure COVID-19 support grants and so this, alongside the fantastic response from our SOS Appeal, means we have not had to dip into our reserves. This has given us stability for at least the year ahead.

We are working to re-build our long-term sustainable income streams and are investigating new ones. This will also involve working closely with the NHS commissioners and the newly established Integrated Care System Devon to champion the need to increase our funding from 19% of costs to a level closer to the national average of 33%.

Our income numbers for 2021/22 include legacies totaling £1.9 million, despite the cash not being received until the following financial year. This is due to income recognition accounting rules. This income has been put in a designated reserve to fund services in 2022/23.

Despite the challenging times that Hospiscare has faced, I am confident that the future is brighter and I look forward to working with and being part of such an important local charity.

Brian

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Contents

Trustees’ Report

Trustees’ Report
Our Objectives and Activities 5
Our Values 5
Our Priorities 6
Our Achievements 2021-2022 7
Our Family of Staf and Volunteers 8
Making Every Day Matter to our Patients and
their Families 9
Activities and Performance in 2021/22 10
Income Generation 12
Financial Review 14
Our Investment Approach 18
How we Manage Risks and Uncertainties 19
Structure, Governance and Management 21
Reference and Administration 24
Statement of Trustees’���������������� 25

Independent Auditors’ Report to the Members of Hospiscare

26

Financial Statements for the year ended 31 March 2022

Consolidated Statement of Financial Activities 30
Consolidated Balance Sheet 31
Charity Statement of Financial Position 32
Consolidated Statement of Cash Flow 33

Notes to the Financial Statements 34

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Our Objectives and Activities

Hospiscare is the principal provider of specialist end-of-life care to the communities of Exeter, Mid and East Devon. Our clinical teams care for patients and their families in the community – visiting homes, care homes, community hospitals and Exeter prison – on our specialist ward in Exeter, at our day hospice units in East and Mid Devon, in the acute hospital and through a 24/7 telephone advice service.

Our Mission

We provide compassionate, expert end-of-life care to those in need – before, during and afer death. Together with our local community, we make every day matter.

Our Vision

Our vision is to ensure those in need receive outstanding end-of-life care in the place of their choice.

Our Values

Our values are the foundations upon which our strategic ambitions are built and determine how Hospiscare is run on a day-to-day basis. In everything we do, we strive to be:

Compassionate towards every member of our community, from our patients and families to our staff members, volunteers and supporters.

Respectful to the needs and beliefs of the people we serve.

Professional in our provision of specialist end-of-life care.

Inclusive to all needs and circumstances, ensuring end-of-life care remains accessible to all.

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Trustees’ Report

Our Priorities

Following a review in 2022, our priorities for the year ahead, as well as our longer term vision for the next three years are as follows:

Care

To care for all of our patients’ needs and bring our care closer to home.

Strategic Priorities for the Year Ahead:

Funding

To accelerate our income for financial stability in light of the challenges we face due to the pandemic and seek to achieve a sustainable level of income.

Strategic Priorities for the Year Ahead:

Marketing

To create a strong presence in our community, engage with current and new supporters and clearly communicate that we are a local charity.

Strategic Priorities for the Year Ahead:

Hospiscare’s Strategic Priorities for the Next Three Years:

Following the last two years of the pandemic, we are taking 2022 to design our new three-year strategy for Hospiscare. Our Trustees and the Senior Management Team are working together on this plan and will be engaging staff for input to ensure it works for the whole charity.

In developing the strategic direction for the next three years, the Trustees and Management are reviewing how services have been delivered over the last two years, including how services have developed during the pandemic. This has included the development of our Clinical Coordination Centre and Afrai services. Where appropriate, this, coupled with knowledge of the current system pressures and the need to explore new opportunities will shape the strategic direction for the next three years. As the impact of the pandemic reduces, and traditional fundraising models become viable again, previous initiatives will be reinstated to generated income, while new opportunities will be identified.

We will be focussing on pulling together the key aims and measureable goals that sit under the following strategic pillars:

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People & Culture

Infrastructure

Patient Services

Finance

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Trustees’ Report

Our Achievements in 2021/22

What we said

What we did

What we said What we did
We would help people with advance care
planning to ensure that our patients’ final
wishes are known.		 We opened up a conversation about dying and what it means to plan
for the time you have left by sharing the video diaries of our patient,
Lizzie, who spoke about her plans for her final months.
To continue this conversation, our Chief Nurse, Ann, shared her
advice for planning ahead and we dedicated a space on our website
to Ann's advice and to resources that can be accessed at any time.
We also aimed to increase our numbers of Care Navigators to assist
patients with advance care planning. Unfortunately, as a result of the
pandemic, we were not able to introduce this at this stage.
We would utilise our five ways of connecting
with and supporting people:
�
Visiting people in their homes
�
A short stay on our specialist ward
�
A telephone call
�
A virtual consultation
�
An outpatient clinic appointment		 We introduced virtual visiting and patient consultations through
secure video calling and developed a new Clinical Co-ordination
Centre to ensure we were just a phone call away.
We would continue to provide more care
closer to home, working towards equal access
to hospice care regardless of diagnosis,
circumstances or economic standing. We
would continue to support people to live well
until they die and ensure that Searle House
remains a centre of expertise with facilities
that are fit for the future.		 Throughout the pandemic, we continued to deliver care on our ward
in Exeter, in patients’ homes and in the community through our
partnerships with local care homes, Exeter Prison and local
homelessness charity, St Petrock’s.
We would provide a range of services that are
reflective of relevant quality standards.		 We continued to be rated ‘Outstanding’ by the Care Quality
Commission and we are working continuously to improve our service
and ensure that it meets all possible quality standards.
We would work with GP networks and promote
our referral criteria.		 We work with all GP networks within our locality, but the pandemic
reduced the level of promotion that we had planned to carry out
duringthisperiod.
We would promote our work to all
stakeholders.		 The publication of our yearly Impact Report, our bi-annual Together
newsletter and other mailings throughout the year promote our work
to stakeholders. In addition, we work with local support groups and
businesses to share our messages to as wide an audience as
possible.
We would work collaboratively with other
health and social care providers.		 The nature of healthcare encourages a collegiate approach and we
work in this way with many other health and social care professionals
across a spectrum of services.
We would engage and share expertise with the
Integrated Care System and clinical
commissioners.		 We have worked closely with the ICSD and clinical commissioners
and taken part in various forums and discussion groups. We
contributed to research for a report on end-of-life care and the
formulation of their commissioning requirement. We also contributed
to a national NHS end-of-life care programme through Hospice UK, of
which we are a member.

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Trustees’ Report

and volunteers.

It is the people who shape our organisation. Every person within our Hospiscare family is dedicated to making every day matter to our patients and their loved ones. As many of our staff and volunteers have a personal connection with our hospice through the care of a loved one, this makes our charity truly unique.

and volunteers. Hospiscare has been awarded the Mind Bronze Award for wellbeing at work and has been recognised as a Disability Confident employer. Hospiscare gives full and fair consideration to all applications for roles within the organisation, and is supportive of ongoing education and training needs, development, and progression of staff irrespective of their protected characteristics including sex, race, disability, and sexual orientation.

Hospiscare could not exist without the dedication of our volunteers. We have almost 600 volunteers who donate over 900 hours of their time per week, which equates to approximately 45,000 hours annually. Their incredible contribution has saved our charity over £400,000 from April 2021 to March 2022.

We have 24 diverse volunteering roles at Hospiscare:

185 volunteers in patientfacing and hospice site-based roles

16 volunteers in Trustee or Trading Board roles Charity Trustees, Trading Board Trustees

Complementary Therapists, Bereavement Listening Service volunteers, Supportive Care Groups, Spiritual Care volunteers, Care Navigators, Supportive Care Admin, Ward Support, Young Clinical volunteers, Welcome Support, Gardeners

134 volunteers in fundraising roles Collection Tin Assistants, Fundraising Support Groups Committee, Fundraising Volunteers, Banking volunteers, Data Entry volunteers, Photographers, Marketing and Communications volunteers

287 volunteers in retail roles Shop volunteers, Warehouse Sorting Assistants, Logistics Administration, PAT Testers, E-commerce volunteers

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“I’ve never worked
anywhere like
Hospiscare before.
Everyone I speak
to has a story
and a link with
Hospiscare. It’s
really quite wonderful – you know
everyone is here because they genuinely
want to be.”
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“Not long afer my stepdad, Malcolm, passed away, I knew I wanted to give back to Hospiscare and become a volunteer. Afer the support Hospiscare gave to us when Malcolm was ill, it is humbling to be able to give something back.”

Kelly Preece joined the Hospiscare family as a volunteer in our Marketing and Communications department in 2019.

Becci Stone joined the Hospiscare family as Volunteering Administrator in May 2021.

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Trustees’ Report

Hospiscare serves the people of Exeter, Mid and East Devon, delivering specialist end-of-life care across 1,068 square miles of Devon’s heartland.

Who are we supporting?

15,468

calls from patients, family members and healthcare professionals were answered by our Clinical Coordination Centre

We cared for 2,247 patients

204 family members and friends received support

How did we support friends, families and loved ones?

86 family members and friends received bereavement support

How did we support our patients? 201 patients cared for on our specialist ward

82,730

people visited our website for advice and support

582 people joined our Light up a Life broadcast to remember their loved ones

2,046 patients cared for at home and in the 880 community patients supported to die at home

April 2021 to March 2022

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Trustees’ Report

Activities and Performance in 2021/22

During the year, Hospiscare cared for over 2,000 patients and provided support to family members and friends in delivering services for the public benefit. We provided care on our specialist ward to 201 patients (2020/21 194 patients), and a further 2,046 patients (2020/21 2,092 patients) in their own home or community setting. This shows a slight increase in patients on our ward and decrease in the community in comparison to the previous year.

Since 31 March 2022, the demand for services has continued to increase, with Hospiscare treating patients with more complex health needs on our specialist ward and within community settings. Service delivery models have been reviewed to enable our charity to respond to increased demand.

Hospiscare continues to provide support to the friends and loved ones of our patients. During 2021/22, we provided bereavement support to 86 family members, and provided online support to over 82,000 members of the public (2020/21 73,611 individuals). In addition, we provided an online Light up a Life service to enable families and friends to remember their loved ones. Historically this service has been held in person, however, an online service was necessary due to COVID-19 restrictions. The level of support provided to patients has increased compared to previous years, with more people seeking guidance and support as a result of the pandemic restricting the usual sources of information.

Improvements have been made to our services in response to the pandemic and changing patient needs and system-wide demand. Indeed, services are continuing to develop to meet the ever increasing demand, and change in patients wishes with more patients choosing to die at home on a yearly basis.

Throughout 2021/22, the Trustees have had regard to the Charity Commission’s guidance on public benefit in making decisions on the services provided.

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Trustees’ Report

Hear from the families we’ve supported this year

“On 26 November 2021, Mum died peacefully at home. My main concern was that she was able to remain at home with me so that we could be together at the end. Julie made this possible by communicatng with Mum’s doctors and care providers, ensuring that I had everything I needed.

“I will always be grateful to Julie, whose care and compassion was without doubt very significant in allowing my mum to be with me at the end of her life.”

Lindsay’s mum, Iris, was cared for by our Admiral Nursing team. Their support enabled Iris to die at home with Lindsay by her side.

Hospiscare team at Searle House on the ward. On that morning when my wonderful dad took his last breath, their incredible support and care meant that I was right there with him, holding his hand and telling him I loved him. I will never forget that moment.”

Ellie’s dad was cared for by our community nursing team before being admitted to our ward for his final days. Our ward team arranged for Mike to be cared for in the Wisteria Room, which opens up onto the beautiful garden at Searle House, and allowed all of the family, including dog Scooby, to be there at the end of his life.

we’re suffering and they live it with us. You will always be in that tunnel of not knowing what’s going on and how you’re going to get on with your life. Unfortunately, I’m stll in that tunnel, but I’m startng to see a bit of light.”

Peter’s wife, Tina, died on our ward in August 2020. Since Tina’s death, Peter has been supported by Sarah and members of our Supportive Care Team.

“18 years ago, my dad lost his beloved wife, Jane, to cancer. Being back on the hospice ward and in the room next to hers brought Dad a sense of calm and belonging.

“Dad was blown away to meet a Hospiscare nurse who remembered treatng Jane and supportng her young boys and Dad in the year that she joined Hospiscare. Dad really needed to feel the personal connecton with those he spent tme with and the nursing team went above and beyond to spend tme with him.”

Tom remembers his dad, Hugh, who died on our ward in 2021. Tom and his family have been fundraising for Hospiscare as it has brought them comfort to know that the money raised in Hugh’s memory will ensure those living with a terminal illness get the support they need.

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Trustees’ Report Income Generation

Making every day matter to our patients and their families

The second year of the pandemic was again very challenging on our income streams and we made the decision to launch our ‘Save Our Services’ Appeal in November 2021 with the aim of raising an additional £1 million by March 2022 to close our deficit.

We are extremely grateful for each and every donation and we would like to take this opportunity to say thank you. Without your incredible support this year, we would have been in a very difficult place.

Take a look at some of the highlights of our fundraising activities from the past year:

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£347K
£132K £278K
from supporters who generously from friends
from Men’s Walk,
donated with a monthly regular gif and family
Twilight Walk,
members
Marathon in a
who chose to
Month, Tour de
remember their
Devon and many
£43K loved ones with more events and
£590K
a donation
challenges
raised by
from our
our amazing
weekly lottery,
Friends of
with over 8,000
Hospiscare
regular players £477K £109K
support groups
providing a
across Exeter, received from from local
stable source
Mid and East charitable businesses
of income for
Devon trusts and supporting our
our charity
foundations work
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Gifs in Wills continues to be our most valuable income stream, and this year we have needed to accrue much more than expected – pushing our legacy income to £3.9 million. This is due to having to account in 2021/22 for £1.9 million of income expected in 2022/23 due to income recognition rules.

to use in the 2022/23 financial year as planned. We continue to focus on gifs in wills promotion to ensure our community and supporters know how invaluable a gif can be to help secure our future.

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Trustees’ Report

Our incredible supporters share their stories

days in the hospice. I wanted to show my appreciaton of the wonderful care we received by leaving a gif in my Will to Hospiscare. It was easy to do and it is lovely to be able to say thank you to the doctors and nurses in this way.”

Brian pledged his gif to Hospiscare in 2021 in memory of Mary.

“My wife was diagnosed with pancreatc cancer and there was always someone fom Hospiscare there for me and Debbie, even during the pandemic. By supportng Hospiscare through playing their lottery, I know there’s always going to be someone there when you need them.”

and continues to support our hospice in memory of his wife, Debbie.

fightng cancer. You face that head-on. Facing the triathlon for Hospiscare head-on was my way of honouring that.”

Will raised double his fundraising target in memory of his dad, Mark.

“We wanted to do something for the Hospiscare@Home team and the doctors and nurses on the ward who were all so wonderful. Marathon in a Month coincided with the anniversary of Keith’s death, and also his birthday on 19 October, so it just felt right to honour him in this way and get something positve out of something so devastatng.”

Gill and her family raised over £2,500 in Keith’s memory with their Marathon in a Month.

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Trustees’ Report Financial Review

company, Hospiscare (Shops) Limited.

a. Going Concern

Afer making appropriate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Furthermore, the trustees have no knowledge of any other financial or regulatory action which could cause the Charity to cease operations.

For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

b. Financial Position at Year-end

The financial statements show the consolidated financial position of the charitable company (‘the Charity) and its subsidiary company (‘the Trading Company’) (collectively ‘the Group’). At 31 March 2022, the net assets of the Group were £15,719,178 (2021 - £12,690,134) an increase of £3,029,044 during the year.

Net assets comprise:

Net assets
 2022 2021
£
 £
Fixed assets
Tangible fxed assets
 4,601,040 4,784,336
Investments
 5,963,345 6,129,645
10,564,385 10,913,981
Current assets
Stocks
 2,833 12,786
Debtors
 2,924,719 1,043,230
Cash
 3,259,079 1,632,908
6,186,631 2,688,924
Less: creditors & provisions
Creditors 845,048 742,056
Provisions 186,790 170,715
1,031,838 912,771
Net assets 15,719,178 12,690,134

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Trustees’ Report

Tangible fixed assets mainly comprise the depreciated cost of the Charity’s hospices and the plant, fixtures and fittings therein.

Investments comprise the investment portfolio managed by external professional investment managers and investment property. The Group’s cash balances are receivable on demand and are held in sterling by leading UK banks and financial institutions.

Debtors and creditors represent normal working capital. Provisions represent the expected cost of future lease dilapidations in respect of the shops estate operated by the Trading Company.

The principal change in the composition of net assets during the year was an increase in the level of Cash and Debtors within the accounts. Both of these increased due to the level of legacy and fundraising income received in the last quarter of the year and accrued at the year end.

The principal items of the Group’s income and expenditure for the year were:

2021/22 2020/21
£ £
Income
Donations and legacies
7,347,095 3,046,001
Charitable activities
2,080,436 2,161,327
Other trading activities
2,823,692 1,536,471
Investments 128,723 139,573
Other income
132,321 2,398,732
Total income and endowments 12,512,267 9,282,104
Expenditure
Raising funds 3,341,539 3,016,972
Charitable activities
6,391,413 6,430,366
Total expenditure 9,732,952 9,447,338
Operating surplus / (defcit)
2,779,315 (165,234)
Investment gains
249,729 932,404
Net income
3,029,044 767,170

Net income has improved compared to last year. Legacy and fundraising income were both higher this year. This was due, in part, to accounting for legacies totalling £1.9 million within the 2021/22 accounts which was not expected to be received until 2022/23, and significant donations during the year.

The Investment portfolios have continued to perform well during 2021/22, although the value of investments held did fall during the last quarter of the year reducing the net gains that were seen. Our investments continue to be managed by external investment managers in line with our Investment Policy.

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Trustees’ Report

Fundraising income increased by 68% during the year as the organisation was able to return to its normal fundraising programme as COVID-19 restrictions were reduced. As a result, the organisation incurred an increase in associated fundraising costs (11%).

Funding from NEW Devon CCG represents 12% (2020/21 – 13%) of total income.

Income from shops and lottery increased by £1,287,221 as shops were able to trade more normally as COVID-19 restrictions were relaxed.

All the above funding sources are primarily used to meet the direct cost of the Charity providing services to patients and their families and necessary central costs.

Expenditure on Charitable Activities fell by £38,953 due to the ongoing challenges of recruiting staff. This phenomenon is seen across health and social care providers within Devon and the wider South West of England. The Group continues to face pressure on salary costs, particularly clinical staff, as it seeks to ensure that it can attract the appropriate level of staff to continue and grow the services

d. Reserves and Reserves Management Policy

Hospiscare had a total of £15,719,178 in reserves on 31 March 2022. This is analysed into unrestricted and restricted reserves.

Unrestricted funds are spent or applied at the discretion of the Trustees to further the purpose of the Charity. The Trustees set aside part of the unrestricted funds to be used for specific purposes including the financing of capital assets, providing financial stability, and funding future projects or commitments. At the year-end, funds had been designated for the following purposes:

2021/22 2020/21
£ £
Financing current capital assets 4,214,995 4,387,654
COVID-19 recovery and future defcits 3,460,540 1,800,000
Stability and working capital
 3,400,000 3,000,000
11,075,535 9,187,654

At the year-end, undesignated “free” funds amount to £1,956,850 (2021: £809,854)

Restricted and Endowment Funds

The following restricted funds are in place within the Hospiscare accounts:

Endowment funds amounted to £20,000 (2020/21: £20,000)

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Trustees’ Report

e. Future Income Streams

The Charity continues to be managed prudently recognising that economic growth remains fragile and uncertain in the wake of current national and international factors. The level of legacy income is also difficult to predict and based on the current ‘pipeline’ the amount received in 2022/23 is likely to be lower than that received in 2021/22, not least due to the earlier recognition of two significant legacies in the prior year.

The Trustees recognise that significant funds are required to finance the Group’s working capital requirements and to provide a buffer against unexpected shortfalls in income, particularly in respect of fundraising activities, legacies that are unpredictable in amount and timing, and against falls in the value of the Charity’s investments. Hospiscare’s Reserve Policy states that unallocated reserves should be less than 12 months expenditure. At the year end, the total value of unallocated reserves was £8.8 million compared to costs for the year of £9.7 million. While the reserves holding is in line with the Organisation’s Reserve Policy, the balance is larger than normal due to the £1.9 million of legacy income recognised in 2021/22 rather than as expected within 2022/23. As such, these funds will be used to fund expenditure during the 2022/23 financial year and will reduce the level of reserves held by the organisation.

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Trustees’ Report Our Investment

Investment Policy, Performance and Objectives

Asset Allocation

Hospiscare is reliant on fundraising and donations for its activities. Its assets are principally held as investments and cash. The key risk to long-term funds is inflation and the assets are invested to mitigate this risk over the long term. The Trustees understand that this is likely to mean that investments will be concentrated in real assets and that their capital value can fluctuate.

‘low-medium risk’, with the ratio and profile reviewed and monitored by the Finance and Income Generation Committee and approved by the Board. The risk profile is determined to mitigate the key risk of inflation.

fund manager and by security. Asset classes may include cash, bonds, equities, property, hedge funds, structured products, private equity, commodities and any other asset that is deemed suitable for the Charity.

The asset class invested in are decided by external professional investment managers according to the risk profile determined by the Trustees.

such, capital volatility cannot be tolerated and these assets are maintained in cash with highly rated banks and financial institutions.

Benchmarking

Performance of the portfolios is measured against an agreed index plus a performance premium. The indices used and the performance premium are reviewed by the Finance and Income Generation Committee in discussion with the appointed investment manager. A recommendation will then be made to the Board for approval.

Method of Review

The Trustees have delegated their day-to-day investment responsibilities to Charles Stanley and lnvestec on a discretionary basis. The Charity’s investments are kept under regular review by the Finance and Income Generation Committee, which is advised by the investment portfolio managers, with a view to ensuring that the Charity’s investments are positioned to meet the strategy detailed in the investment policy. The Board considers a report on investment performance at least annually.

Restrictions and Ethical Policy

The Trustees take account of social, environmental and ethical issues in the charity’s investment policy and endeavour not to invest in companies that draw a major part of their income from tobaccorelated products.

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Trustees’ Report

How we Manage Risks and Uncertainties

Hospiscare has a clear risk management framework in place which is overseen by the Audit, Risk, and Corporate Governance Committee as delegated by the Board of Trustees. The corporate risk register is reviewed at all committees and by the Board and the Audit, Risk and Corporate Governance Committee annually. Departmental risks are reviewed by the Senior Management Team (SMT) and appropriate departments. In addition, the trading company has a corporate and departmental risk register and its board reviews this at each meeting.

Risk Management

Hospiscare has a clear risk management framework in place which is overseen by the Audit, Risk, and Corporate Governance Committee as delegated by the Board of Trustees. The corporate risk register is reviewed at all committees and by the Board and the Assurance, Risk and Corporate Governance Committee annually. Departmental risks are reviewed by the Senior Management Team (SMT) and appropriate departments. In addition, the trading company has a corporate and departmental risk register and its board reviews this at each meeting.

The responsibility for the management and control of a charity rests with the Trustee body and therefore their involvement in the key aspects of the risk management process is essential, particularly in setting the parameters of the process and reviewing and considering the results.

The risk register is managed by an electronic data management system.

Bi-monthly risk surgeries are carried out with the Directors and Head of Retail to ensure the risks are kept up-to date and managed.

The Board has considered risk appetite and recognises that the charity’s long-term sustainability depends upon the delivery of its strategic objectives and its relationships with patients, supporters, the local community and strategic partners.

Hospiscare will not accept risks that materially impact on patient safety. However, Hospiscare has a greater appetite to take considered risks in terms of their impact on organisational issues and reputation. Hospiscare has appetite to pursue innovation and to take opportunities where positive gains can be anticipated, within the constraints of the regulatory environments.

Hospiscare is compliant with all relevant legal, statutory and regulatory standards. It has followed Charity Commission guidance and complies with Principle 4 of the Charity Governance Code, Decision Making, Risk and Control.

It has updated its information governance and security in line with the General Data Protection Regulation (GDPR) and has appointed a Data Protection Officer who is the Head of Governance and Data Protection.

The Senior Information Risk Owner (SIRO) role is held by the Director of Estates and Facilities with overall responsibility for the charity’s information risk policy. The SIRO is accountable and responsible for information risk across the organisation.

Principal Risks and Uncertainties

The principal risks and uncertainties facing the Charity and the Trustees’ plans and strategies for managing those risks are set out in the table below:

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Trustees’ Report

Risk Title Summary of Control
Insufficient quality of care �
Adherence to CQC regulation and statutory
obligations
�
Systematic quality review and audit
�
In-house monitoring by Quality Assurance and
Improvement Committee and Patient Experience and
Safety meetings
�
Robust systems and processes for clinical and care
work
The Charity not having enough money to
ensure the continuation of services and
levels of care		 �
Annual Budget Process gives a 12 month forecast of
financial performance and allows comparison of
actual results against the forecast
�
This is supported by a six year overview for the
period ending 31 March 2029
Care falls below required CQC standards and
does not meet Hospiscare ambition of
excellence		 �
Demonstrate effective corporate governance
contributing to the mitigation of this risk
�
This is overseen by the CEO and company secretary
Potential breach of legislation and
guidelines/regulatory compliance		 �
Appropriate policies and procedures put into place
and updated as and when required so all staff and
volunteers are aware of their obligations to uphold
required legislation
Inability to recruit and retain appropriately
skilled staff at the levels required to deliver
Hospiscare’s services		 �
Collaborative working between People and Clinical
Leaders on Clinical Careers Days, and future
initiatives planned for targeted recruitment
campaigns.

Fundraising Standards Information

We adhere to the Fundraising Regulator and its Fundraising Code along with the Gambling Commission and its License Conditions and Codes of Practice. We have not had any breaches against these during 2021/22. We regularly monitor and report on all of our fundraising activities and provide training and guidance to those taking on our fundraising activities, meeting regularly with our volunteer fundraising groups.

We are very mindful of how we engage with vulnerable people and ensure we work within the Data Protection Laws and Fundraising Code of Practice. We also have excellent support from our clinical colleagues if we have a concern about a supporter and we have a Safeguarding Lead we can seek advice from if needed.

Complaints

During the year, we received 10 complaints linked to its fundraising. While none of the complaints received were of a serious nature, we have worked with the complainant to understand their concerns and make suitable adjustments to our fundraising approach where this has been necessary for future events.

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Trustees’ Report

Hospiscare is a registered charitable company limited by guarantee.

The Charity is constituted under Articles of Association and is a registered charity, number 297798. The Charity was set up in 1982 and was established as a company limited by guarantee in 1987. In the event of the company being wound up, members are required to contribute an amount of £1.

The company has a wholly-owned trading subsidiary Hospiscare (Shops) Limited (company number 02201730 (England & Wales), whose sole purpose is to raise funds for the Charity by operating a chain of local charity shops and a warehouse.

Organisational Structure

areas in detail. These sub-committees are: Finance and Income Generation Committee, the Audit, Risk and Corporate Governance Committee, the Quality Assurance and Improvement Committee, the People and Estates Committee, the Nominations Committee and the Remuneration Committee.

The Chair of the Trustees is Brian Aird, whose career in NHS management encompassed periods as a Director and a CEO of NHS organisations. Brian was appointed as Chair in March 2022.

The Charity is organised so that the Trustees meet collectively four times a year to direct the management of its affairs. Strategy days are also held twice a year.

The operational management of the Charity lies with the Senior Management Team (SMT). The SMT meets monthly.

Hospiscare (Shops) Limited is managed by its Board of Directors comprising a Trustee of the Charity, members of the Charity’s senior management team and non-executive directors with relevant experience. Hospiscare has reviewed the 2018 Charity Governance Code and aspires to meet its principles.

Appointment, Induction and Training of Trustees

The Board seeks to ensure that it encompasses an appropriate range of skills and talent. Hospiscare’s Nominations Committee oversees the recruitment of new Trustees, following the Charity’s policy on Trustee recruitment. Trustees are appointed by the Board and serve for three years afer which period they may put themselves forward for re-appointment. Trustees may be appointed for a maximum of three consecutive terms of three years afer which, they must stand down for at least one year. The Trustees also receive training on other topics relevant to governance and their committee membership.

induction programme, which includes spending time with each of the key services that Hospiscare provides and visiting its shops. Trustees identify topics on which they would like further information or training and appropriate measures are put in place to provide this. A presentation about patient experience is made by clinical staff, anonymously, at the beginning of every Board meeting.

Management

The day to day operation of the Charity is carried out by the SMT, who have delegated responsibility and are employees of the Charity.

During 2021/22 care services throughout the Charity were provided under the direction of the Director of Care, Tina Naldrett.

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Trustees’ Report

Marketing, Katie Chantler. The finance function was overseen by the Director of Finance, Dominic Rogers. The Director for People, Annette Hill, is responsible for HR and Volunteering. The Operations Director, Wayne Gale, is responsible for facilities management and health and safety.

The above members of the SMT report to the Chief Executive, Andrew Randall, who oversees all operational and strategic matters.

Senior Management Team Remuneration

The committee comprises of up to six Trustees, one of which must be the Chair of Trustees. The committee considers information from a variety of available sources to benchmark the pay and benefits of its senior staff and makes recommendations to the Board accordingly.

Employees

Hospiscare is committed to the principle of equal opportunities in employment and recognises its obligations under the Equality Act 2010. Hospiscare declares its opposition to any form of less favourable treatment, whether through direct or indirect, associated or perceived discrimination accorded to Hospiscare staff, or job applicants, on the grounds of their race/nationality or ethnic origin, disability, sex, age, sexual orientation and gender reassignment, marital and civil partnership status, pregnancy and maternity, religion or belief (otherwise known as ‘protected characteristics’ as defined by the Equality Act 2010), including Human Rights.

practice, valuing the diversity of all individuals and communities.

perspectives, ideas, knowledge and culture that brings great strength to our organisation.

diversity and inclusivity to encourage individuals to develop and maximise their true potential.

regular health and safety training that is in compliance with Hospiscare’s Health and Safety Policy.

Voice’ forum. Hospiscare’s strong ‘Speaking Up’ culture is also encouraged by our ‘Freedom to Speak Up Guardians’ from across the organisation. Information concerning the Charity and its activities and performance are shared with employees through several mediums including email, the staff intranet and organisational meetings.

Risk Management

The responsibility for the management and control of a charity rests with the Trustee body and therefore their involvement in the key aspects of the risk management process is essential, particularly in setting the parameters of the process and reviewing and considering the results.

The corporate risk register is reviewed at all committees and by the Board and the Assurance, Risk and Corporate Governance Committee annually. Departmental risks are reviewed by SMT and appropriate departments. Update reports will be presented to Committees and the Board.

The trading company also has a corporate and departmental risk register and its Board reviews this at each meeting.

The risk register is managed by an electronic data management system.

Bi-monthly risk surgeries are carried out with the Directors and Head of Retail to ensure the risks are kept up-todate and managed.

The Board has considered risk appetite and recognises that the Charity’s long-term sustainability depends upon the delivery of its strategic objectives and its relationships with patients, supporters, the local community and

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Trustees’ Report

strategic partners.

Hospiscare will not accept risks that materially impact on patient safety. However, Hospiscare has a greater appetite to take considered risks in terms of their impact on organisational issues and reputation. Hospiscare has appetite to pursue innovation and to take opportunities where positive gains can be anticipated, within the constraints of the regulatory environments.

Hospiscare is compliant with all relevant legal, statutory and regulatory standards. It has followed Charity Commission guidance and complies with Principle 4 of the Charity Governance Code, Decision Making, Risk and Control.

Hospiscare has updated its information governance and security in line with the General Data Protection Regulation (GDPR) and has appointed a Data Protection Officer who is the Head of Governance and Data Protection. The Senior Information Risk Owner (SIRO) role is held by the Director of Estates and Facilities with overall responsibility for the Charity’s information risk policy. The SIRO is accountable and responsible for information risk across the organisation.

Related Parties

The Articles of Association of Hospiscare (Shops) Limited give the charity power to control the decisions of that company.

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Trustees’ Report Reference and

Company Number 02164215 Charity Number 297798

Directors and Trustees

Directors and Trustees
Secretary
 Andrew Randall
Registered Ofce Searle House, Dryd�n Road,
Exeter, Devon, EX2 5JJ
Brian Aird Chair of Trustees (Appointed 10 January 2022)
Dr Helen Enright Vice Chair of Trustees
John Hawkins Trustee (Resigned 13 December 2022)
Jose Cortizo Trustee
Peter Serjeant Trustee
Sarah Jackson Trustee
Jenny Winslade Trustee
Matthew Bryant Trustee
Cathy Durston Trustee
Mike Williams Trustee (Appointed 10 January 2022)
Greg Allen Trustee
Barbara Sweeney
 Trustee (Resigned 23 July 2022)
Robert (Geof) Pringle Chair of Trustees (Resigned 6 April 2021)
Charlotte McGregor
 Trustee (Resigned 28 September 2021)
Geofrey Bush Trustee (Resigned 28 September 2021)
Ben Turner Trustee (Resigned 28 September 2021)

Senior Management Team

Senior Management Team
Chief Executive Andrew Randall
Director of Care Tina Naldrett
Director of Finance Dominic Rogers
Director for People Annette Hill
Director of Fundraising and Marketing Katie Chantler
Operations Director Wayne Gale

Advisors

Advisors
Principal Bankers National Westminster Bank Plc, 59 High
Street, Exeter, EX4 3DL
Independent Auditors Bishop Fleming LLP, Chartered Accountants,
2nd Floor Stratus House, Emperor Way, Exeter
Business Park, Exeter, EX1 3QS

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Trustees’ Report

Statement of Trustees’ ����������������

The Trustees (who are also directors of Hospiscare for the purposes of company law) are responsible for preparing the Trustees’ report (including the group strategic report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity and company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charitable Company and the Group, and of the incoming resources and application of resources, including the income and expenditure, of the charitable group for that period. In preparing these financial statements, the Trustees are required to:

explain the Charitable Company and the Group’s transactions; to disclose, with reasonable accuracy at any time, the financial position of the Charitable Company and the Group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of Information to Auditors

that:

This report, incorporating the group strategic report, was approved by the Trustees, in their capacity as company directors, and signed on their behalf by:

Brian Aird

Brian Aird

Chair of Trustees

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Independent Auditors’ Report to Independent Auditors’ the Members of Hospiscare Report to the Members

Opinion

its subsidiaries (the ‘Group’) for the year ended 31 March 2022 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Charity balance sheet, the Consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

basis of accounting in the preparation of the financial statements is appropriate.

events or conditions that, individually or collectively, may cast significant doubt on the Group’s or the Parent Charitable Company’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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Independent Auditors’ Report to the Members of Hospiscare

Other Information

The other information comprises the information included in the Annual Report and Accounts other than the financial statements and our Auditors’ report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are Required to Report by Exception

In the light of our knowledge and understanding of the Charitable Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ report including the Strategic report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Trustees’ responsibilities statement, the Trustees (who are also the directors of the Charitable Company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Parent Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

www.hospiscare.co.uk |

Independent Auditors’ Report to the Members of Hospiscare

Auditors’ Responsibilities for the Audit of the Financial Statements

are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

respond to the risk of management override.

We have also obtained an understanding of the legal and regulatory frameworks that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. Laws and regulations that are of direct significance to the Group, and of which non-compliance could result in material misstatement, are considered to be the UK Companies Act, Charities SORP, FRS 102, Charities Legislation and UK tax legislation.

on the financial statements but compliance with which may be fundamental to the Group’s ability to operate or to avoid a material penalty. These included data protection regulations, health and safety regulations, employment legislation and care quality commission compliance.

subsidiaries, as was considered appropriate:

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Independent Auditors’ Report to the Members of Hospiscare

We also communicated relevant ed laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material mi nancial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions r nancial statements, the less likely we would become aware of it.

A further description of our responsibilities for the audit of ocated on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors’ report.

Use of our Report

This report is made solely to the Charitable Company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charitable Company’s members those matters we are required to state to them in an Auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charitable Company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Tim Borton FCA (Senior Statutory Auditor)�for and on behalf of Bishop Fleming LLP��Chartered Accountants��Statutory Auditors 2nd Floor Stratus House, Emperor Way Exeter Business Park��Exeter, EX1 3QS

Date: 1� December 2022

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Financial Statements Financial Statements(for the year ended 31 March 2022)

Consolidated Statement of Financial Activities

(including income and expenditure account) for the year ended 31 March 2022

Note Endowment
funds 2022
£		 Restricted
funds 2022
£		 Unrestricted
funds 2022
£		 Total funds
2022
£		 Total funds 2021
£
Income and
endowments from:
Donations and legacies 4 - 1,603,067 5,744,028 7,347,095 3,046,001
Charitable activities 5 - - 2,080,436 2,080,436 2,161,327
Other tradingactivities 6 - - 2,823,692 2,823,692 1,536,471
Investments 7 - 48,647 80,076 128,723 139,573
Other income 8 - - 132,321 132,321 2,398,732
Total income and
endowments		 - 1,651,714 10,860,553 12,512,267 9,282,104
Expenditure on:
Raisingfunds 9 - - 3,341,539 3,341,539 3,016,972
Charitable activities 10 - 1,682,972 4,708,441 6,391,413 6,430,366
Total expenditure: - 1,682,972 8,049,980 9,732,952 9,447,338
Net
(expenditure)/income
before net gains on
investments		 - (31,258) 2,810,573 2,779,315 (165,234)
Net gains on
investments		 - 25,425 224,304 249,729 932,404
Net movement in
funds		 - (5,833) 3,034,877 3,029,044 767,170
Reconciliation of
funds:
Total funds brought
forward		 20,000 2,672,626 9,997,508 12,690,134 11,922,964
Net movement in funds - (5,833) 3,034,877 3,029,044 767,170
Total funds carried
forward		 20,000 2,666,793 13,032,385 15,719,178 12,690,134

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Financial Statements (for the year ended 31 March 2022)

Consolidated Balance Sheet

as at 31 March 2022

Note 2022
£		 2021
£
Fixed assets
Tangible assets 14 4,601,040 4,784,336
Investments 16 5,593,345 5,759,645
Investmentproperty 15 370,000 370,000
10,564,385 10,913,981
Current assets
Stocks 2,833 12,786
Debtors 17 2,924,719 1,043,230
Cash at bank and in hand 3,259,079 1,632,908
6,186,631 2,688,924
Creditors: amounts falling due
within oneyear		 18 (845,048) (742,056)
Net current assets 5,341,583 1,946,868
Total assets less current
liabilities		 15,905,968 12,860,849
Provisions for liabilities 19 (186,790) (170,715)
Total net assets 15,719,178 12,690,134
Charity funds
Endowment funds 20 20,000 20,000
Restricted funds 20 2,666,793 2,672,626
Unrestricted funds 20 13,032,385 9,997,508
Total funds 15,719,178 12,690,134

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

Brian Aird

Brian Aird

Chair of Trustees Date: 13 December 2022

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Financial Statements (for the year ended 31 March 2022)

Charity Statement of Financial Position (as at 31 March 2022)

N
o
t
e		 2
0
2
2
£		 2
0
2
1
£
Fixed assets
Tangible assets 14 4,571,461 4,681,391
Investments 16 5,703,347 5,869,647
Investmentproperty 15 370,000 370,000
Current assets
Debtors 17 3,073,839 1,142,525
Cash at bank and in hand 2,833,246 1,305,423
Creditors: amounts falling
due within oneyear		 18 (767,215) (675,064)
Net current assets 5,139,870 1,772,884
Total assets less current
liabilities		 15,784,678 12,693,922
Total net assets 15,784,678 12,693,922
Charity funds
Endowment funds 20 20,000 20,000
Restricted funds 20 2,666,793 2,672,626
Unrestricted funds 20 13,097,885 10,001,296
Total funds 15,784,678 12,693,922

The Charity’s net movement in funds for the year was £3,090,756 (2021: (£478,951)).

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

behalf by:

Brian Aird

Brian Aird

Chair of Trustees

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Financial Statements (for the year ended 31 March 2022)

Consolidated Statement of Cash Flows (for the year ended 31 March 2022)

Note 2022
£		 2021
£
Cash flows from operating
activities
Net cash generated by
operatingactivities		 22 1,144,120 4,014
Cash flows from investing
activities
Dividends, interests and
rents from investments		 128,723 139,573
Purchase of tangible fixed
assets		 (102,635) (73,748)
Loss on sale of tangible
fixed assets		 39,934 8,015
Proceeds from sale of
investments		 1,154,562 163,460
Purchase of investments (738,533) (190,291)
Net cash provided by
investing activities		 482,051 47,009
Cash flows from financing
activities
N
e
t
c
a
s
h
p
r
o
v
i
d
e
d
b
y
f
i
n
a
n
c
i
n
g
a
c
t
i
v
i
t
i
e
s		 - -
Change in cash and cash
equivalents in theyear		 1,626,171 51,023
Cash and cash equivalents
at the beginningof theyear		 1,632,908 1,581,885
Cash and cash equivalents
at the end of theyear		 23 3,259,079 1,632,908

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Notes to the Financial Statements (for the year ended 31 March 2022)

Notes to the Financial Statements

(for the year ended 31 March 2022)

1. General Information

The Charity is a company limited by guarantee, incorporated in England in the United Kingdom. Its registered office is Searle House, Dryden Road, Exeter, EX2 5JJ. The members of the company are the Trustees named on page 24. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

2. Accounting Policies

2.1 Basis of Preparation of Financial Statements

-Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

the financial statements of the Charity and its subsidiary undertakings. The results of the subsidiary are consolidated on a line by line basis.

The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.

2.2 Going Concern

The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might affect the ability of the Group to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of approval of the financial statements.

The organisation has reviewed its compliance with the CQC regulatory framework and does not believe that the organisation would be placed in special measures based on the outcome of the assessment. As such, there are no concerns regarding the ability of the Charity to continue to deliver its principal objectives.

2.3 Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed

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Notes to the Financial Statements (for the year ended 31 March 2022)

by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2.4 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Group that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the Charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the Charity, or the Charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Income tax recoverable in relation to donations received under Gif Aid or deeds of covenant is recognised at the time of the donation.

Income from grants is included in incoming resources when receivable. When donors specify that grants are for a particular restricted purpose, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources within restricted funds when receivable.

When income is received in advance of delivering the service, it is deferred until the Group is entitled to that income.

Investment income is brought into the accounts when it is received.

Lottery income is accounted for based on the date of the lottery for which the ticket has been purchased.

2.5 Expenditure

to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group’s objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

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Notes to the Financial Statements (for the year ended 31 March 2022)

2.6 Interest Receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 Tangible Fixed Assets and Depreciation

benefits are probable and the cost or value of the asset can be measured reliably.

fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Freehold Buildings - 2% straight line
Leasehold Land & Buildings - 2% straight line or over the term of the lease if shorter
Plant and Machinery - 20% straight line
Motor Vehicles - 20% straight line
Fixtures & Fittings
 - 15-33% straight line

2.8 Investments

transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Net Gains on investments’ in the consolidated statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

2.9 Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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Notes to the Financial Statements (for the year ended 31 March 2022)

FRS 102 recommends that goods donated for resale are valued. However, estimating the fair value of donated goods for resale is impractical because of the high level of low value items received. The Trustees have therefore determined that no meaningful valuation can be made and no value has been assigned to the stock of donated goods.

2.10 Debtors

Prepayments are valued at the amount prepaid.

2.11 Cash at bank in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.12 Liabilities

Liabilities and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Group anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation.

2.13 Financial Instruments

financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2.14 Pensions

is an unfunded, multi-employer defined benefit pension scheme. The Group, like similar employers in this sector, is unable to identify its share of the underlying assets and liabilities in the scheme and therefore, as required by FRS 102, accounts for this scheme as if it was a defined contribution scheme. Contributions are paid to the scheme by the Group and by employees.

The pension charge represents the amounts payable by the Group to the funds in respect of the year.

3. Critical Accounting Estimates and Areas of Judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Group makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

In the application of the Group’s accounting policies, the Trustees are required to make judgements,

www.hospiscare.co.uk |

Notes to the Financial Statements (for the year ended 31 March 2022)

estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

carrying amount of assets and liabilities are outlined below.

Useful Economic Lives of Tangible Assets

The annual depreciation charge is sensitive to any changes in the estimated useful life and residual values of tangible assets. The useful economic lives and residual value is assessed on an annual basis and are amended only when evidence shows a change in the estimated economic lives or residual life. Criteria used to assess the economic life and residual value includes technological advancement, economic utilisation and physical condition of the asset and future investments.

Dilapidations

The dilapidation provision is assessed on a lease-by-lease basis, calculated as a proportion of the annual rent in light of previous experience of actual dilapidation costs. The provision accrues over the term of the lease.

Legacies

Entitlement to legacies is assessed on a case by case basis taking into account factors such as whether probate has been granted and whether the amount receivable can be reliably estimated. Legacies are only accrued when the conditions set out in note 2.4 have been met.

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Notes to the Financial Statements (for the year ended 31 March 2022)

4. Income from Donations and Legacies

Restricted funds
2022
£		 Unrestricted
funds 2022
£		 Total funds 2022
£		 Total funds 2021
£
Donations and
fundraising		 418,915 1,380,004 1,798,919 1,068,782
Legacies 77,850 3,848,984 3,926,834 1,293,763
Grants 1,101,552 343,401 1,444,953 519,234
Gift Aid 4,750 171,639 176,389 164,222
Total 2022 1,603,067 5,744,028 7,347,095 3,046,001
Total 2021 462,317 2,583,684 3,046,001

5. Income from Charitable Activities

Restricted funds
2022
£		 Unrestricted
funds 2022
£		 Total funds 2022
£		 Total funds 2021
£
Education - 126,370 126,370 118,701
NEW Devon CCG - 1,460,981 1,460,981 1,295,570
Coastal towns
homecare
services		 - 493,085 493,085 747,056
Total 2022 - 2,080,436 2,080,436 2,161,327
Total 2021 75,000 2,086,327 2,161,327

www.hospiscare.co.uk |

Notes to the Financial Statements (for the year ended 31 March 2022)

6. Income from other Trading Activities

Income from non-charitable trading activities

Unrestricted funds
2022
£		 Total funds 2022
£		 Total funds 2021
£
Hospiscare shops 2,234,267 2,234,267 936,497
Lottery 589,425 589,425 599,974
Total 2022 2,823,692 2,823,692 1,536,471
Total 2021 1,536,471 1,536,471

7. Investment Income

Restricted funds
2022
£		 Unrestricted
funds 2022
£		 Total funds 2022
£		 Total funds 2021
£
Retail income 3,567 - 3,567 14,644
Income on
investments		 39,203 76,504 115,707 123,865
Income on cash
deposits		 5,877 3,572 9,449 1,064
Total 2022 48,647 80,076 128,723 139,573
Total 2021 64,014 75,559 139,573

8. Other Income

Unrestricted funds
2022
£		 Total funds 2022
£		 Total funds 2021
£
Government grants and
insurance claims
receivable relating to
COVID-19		 97,850 97,850 2,355,964
Cateringincome 8,630 8,630 7,800
Renewable energy
income		 18,359 18,359 30,045
Property insurance
income		 7,482 7,482 4,923
Total 2022 132,321 132,321 2,398,732
Total 2021 2,398,732 2,398,732

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Notes to the Financial Statements (for the year ended 31 March 2022)

9. Expenditure on Raising Funds

Costs of Raising Voluntary Income

Unrestricted funds
2022
£		 Total funds 2022
£		 Total funds 2021
£
Costs of raising
voluntary income –
direct costs		 301,066 301,066 180,029
Costs of raising
voluntary income –
wages and salaries		 388,951 388,951 369,892
Costs of raising
voluntaryincome – NI		 33,547 33,547 31,199
Costs of raising
voluntary income –
pension costs		 25,972 25,972 23,849
Allocated centrally
incurred fundraising
and governance costs
includingdepreciation		 274,483 274,483 250,705
Total 2022 1,024,019 1,024,019 855,674
Total 2021 855,674 855,674

Other Trading Expenses

Unrestricted funds
2022
£		 Total funds 2022
£		 Total funds 2021
£
Hospiscare shops’
expenditure		 969,440 969,440 848,057
Lotteryexpenditure 147,544 147,544 126,814
Staff costs 1,163,639 1,163,639 1,143,006
Hospiscare shops’
depreciation		 36,897 36,897 42,695
Administration
expenses		 - - 726
Total 2022 2,317,520 2,317,520 2,161,298
Total 2021 2,161,298 2,161,298

Staff costs are made up of £1,109,402 (2021: £1,069,529) attributable to Hospiscare Shops’ expenditure and £54,237 (2021: £73,477) attributable to lottery expenditure.

Costs of raising voluntary income £1,024,019 and other trading expenses £2,317,520 total £3,341,539 (2021: £3,016,972).

www.hospiscare.co.uk |

Notes to the Financial Statements (for the year ended 31 March 2022)

10. Analysis of Expenditure by Activities

Activities
undertaken
directly 2022
£		 Support costs
2022
£		 Total funds 2022
£		 Total funds 2021
£
Ward 2,511,215 773,555 3,284,770 3,215,710
Community
nursingservices		 1,869,321 1,014,746 2,884,067 2,925,366
Supportive care
services		 70,332 52,690 123,022 200,098
Education 53,806 45,748 99,554 89,192
Total 2022 4,504,674 1,886,739 6,391,413 6,430,366
Total 2021 4,561,815 1,868,551 6,430,366

Analysis of Direct Costs

Ward 2022
£		 Community
nursing
service
2022
£		 Day care
services
2022
(Supportive
care
services?)
£		 Education
2022
£		 Total funds
2022
£		 Total funds
2021
£
Staff costs 2,323,785 1,708,895 1,472 28,379 4,062,531 4,015,465
Medical
supplies		 23,569 2,577 - - 26,146 45,572
Bank staff - 74,075 664 1,436 76,175 176,240
Travel
expenses		 3,175 33,806 123 - 37,104 45,231
Other direct
costs		 127,612 49,817 44,634 5,132 227,195 213,983
Administration
& overheads		 33,074 151 23,439 18,859 75,523 65,324
Total 2022 2,511,215 1,869,321 70,332 53,806 4,504,674 4,561,815
Total 2021 2,325,278 2,086,862 105,003 44,672 4,561,815

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Notes to the Financial Statements (for the year ended 31 March 2022)

Analysis of Support Costs

Ward 2022
£		 Community
nursing
service
2022
£		 Day care
services
2022
(Supportive
care
services?)
£		 Education
2022
£		 Total
funds
2022
£		 Total
funds 2021
£
Staff costs 549,074 561,428 - 24,062 1,134,564 1,116,797
Depreciation 54,661 75,646 43,153 5,091 178,551 182,398
Administration
& overheads		 157,867 357,670 9,537 15,737 540,811 534,801
Catering 3,661 13,749 - 589 17,999 18,407
Governance 8,292 6,253 - 269 14,814 16,148
Total 2022 773,555 1,014,746 52,690 45,748 1,886,739 1,868,551
Total 2021 890,432 838,504 95,095 44,520 1,868,551

Support costs are allocated based on staff numbers.

11. Auditors’ Remuneration

2022
£		 2021
£
Fees payable to the Group's
auditor for the audit of the
Group's annual
accounts		 9,950 8,000
Fees payable to the Group's
auditor in respect of:
The audit of the annual
accounts of the Group's
subsidiaryundertakings		 6,100 5,400

12. Staff Costs

Group 2022
£		 Group 2021
£		 Charity 2022
£		 Charity 2021
£
Wages and
salaries		 5,925,928 5,836,245 4,937,014 4,871,231
Social security
costs		 520,629 516,475 452,634 462,103
Pension costs 507,014 497,329 454,521 447,186
Total 6,953,571 6,850,049 5,844,169 5,780,520

www.hospiscare.co.uk |

Notes to the Financial Statements (for the year ended 31 March 2022)

The average number of persons employed by the Charity during the year was as follows:

Group 2022
No.		 Group 2021
No.		 Charity 2022
No.		 Charity 2021
No.
Doctors 7 10 7 10
Nurses 96 76 96 76
Health care
assistants		 20 22 20 22
Care managers 2 8 2 8
Volunteer co-
ordinators		 1 1 1 1
Fundraisingstaff 16 24 16 24
Administration 41 21 41 21
Trading 61 70 - -
Lottery 2 4 2 4
Complementary
therapies		 1 2 1 2
Catering/cleaning 11 17 11 17
Education 3 5 3 5
Total 261 260 200 190

The average headcount expressed as full-time equivalents was:

Group 2022
No.		 Group 2021
No.		 Charity 2022
No.		 Charity 2021
No.
205 181 144 130

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

Group 2022
No.		 Group 2021
No.
In the band £60,001 - £70,000 2 3
In the band £80,001 - £90,000 - 1
In the band £90,001 - £100,000 1 1

Senior Management Team personnel of the Parent Charity and Group comprises the Trustees and senior management team. The total employee benefits (including employer pension contributions and employer national insurance contributions) of the key management personnel were £393,101. (2021: £519,323).

relates to them.

13. Trustees’ Remuneration and Expenses

During the year ended 31 March 2022, expenses totalling £NIL were reimbursed or paid directly to the Trustees (2021: NIL).

During the year, the total amount of donations received from the Trustees without restriction were £9,765 (2021: £1,735).

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Notes to the Financial Statements (for the year ended 31 March 2022)

14. Tangible Fixed Assets

Group

Freehold
property
£		 Long-term
leasehold
property
£		 Short-
term
leasehold
property
£		 Plant and
machinery
£		 Motor
vehicles
£		 Fixtures
and
fittings		 Total
£
Cost or
valuation
At 1 April
2021		 2,294,976 3,828,760 9,725 310,952 31,050 1,158,384 7,633,847
Additions - 22,967 - 13,400 - 66,268 102,635
Disposals - (3,465) - - - (71,678) (75,143)
At 31 March
2022		 2,294,976 3,848,262 9,725 324,352 31,050 1,152,974 7,661,339
Depreciation
At 1 April
2021		 299,100 1,464,366 - 260,978 22,607 802,460 2,849,511
Charge for
theyear		 46,230 58,054 1,221 21,425 2,943 116,124 245,997
On disposals - - - - - (35,209) (35,209)
At 31 March
2022		 345,330 1,522,420 1,221 282,403 25,550 883,375 3,060,299
Net book
value
At 31 March
2022		 1,949,646 2,325,842 8,504 41,949 5,500 269,599 4,601,040
At 31 March
2021		 1,995,876 2,364,394 9,725 49,974 8,443 355,924 4,784,336

www.hospiscare.co.uk |

Notes to the Financial Statements (for the year ended 31 March 2022)

Charity

Freehold
property
£		 Long-term
leasehold
property
£		 Plant and
machinery
£		 Motor
vehicles
£		 Fixtures
and fittings		 Total
£
Cost or
valuation
At 1 April
2021		 2,294,976 3,796,040 310,952 31,050 873,992 7,307,010
Additions ~~-~~ 22,967 13,400 ~~-~~ 66,268 102,635
Disposals ~~-~~ (3,465) ~~-~~ ~~-~~ ~~-~~ (3,465)
At 31 March
2022		 2,294,976 3,815,542 324,352 31,050 940,260 7,406,180
Depreciation
At 1 April
2021		 299,100 1,431,606 260,978 22,607 611,328 2,625,619
Charge for
theyear		 46,230 58,054 21,425 2,943 80,448 209,100
At 31 March
2022		 345,330 1,489,660 282,403 25,550 691,776 2,834,719
Net book
value
At 31 March
2022		 1,949,646 2,325,882 41,949 5,500 248,484 4,571,461
At 31 March
2021		 1,995,876 2,364,434 49,974 8,443 262,664 4,681,391

15. Investment Property

Group Freehold investment property
£
V
a
l
u
a
t
i
o
n
At 1 April 2021 370,000
At31 March 2022 370,000
C
h
a
r
i
t
y		 F
r
e
e
h
o
l
d
i
n
v
e
s
t
m
e
n
t
p
r
o
p
e
r
t
y
£
V
a
l
u
a
t
i
o
n
At 1 April 2021 370,000
At31 March 2022 370,000

Valuation

Investments are based on Trustees’ valuation based on market data and previous professional valuations.

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Notes to the Financial Statements (for the year ended 31 March 2022)

16.Fixed Asset Investments

Fixed Asset Investments

Group Listed investments
Cost or valuation
At 1 April 2021 5,759,645
Additions 738,533
Disposals (1,095,913)
Revaluations 191,080
At31 March 2022 5,593,345
Net book value
At31 March 2022 5,593,345
At31 March 2021 5,759,645
Charity Investments in
subsidiary companies
£		 Listed investments
£		 Total
£
Cost or valuation
At 1 April 2021 110,002 5,759,645 5,869,647
Additions - 738,533 738,533
Disposals - (1,095,913) (1,095,913)
Revaluations - 191,080 191,080
At31 March 2022 110,002 5,593,345 5,703,347
Net book value
At31 March 2022 110,002 5,593,345 5,703,347
At31 March 2021 110,002 5,759,645 5,869,647

Principal Subsidiaries

The following were subsidiary undertakings of the Charity:

Names Company number Included in
consolidation		 Holding
Hospiscare (Shops)
Limited		 02201730 Yes 100%
Hospiscare Exmouth
and Lympstone		 02927336 Yes 100%

The financial results of the subsidiary for the year were:

Name Income
£		 Expenditure
£		 Loss for the year
£		 Net assets
£
Hospiscare
(Shops)Limited		 2,072,942 (2,134,654) (61,712) 44,502

Hospiscare Exmouth and Lympstone merged with Hospiscare in 2019 and all operations, assets and liabilities of that charity were transferred to Hospiscare. Accordingly, afer the date of the merger, there has been no income or expenditure recognised by Hospiscare Exmouth and Lympstone and its net assets at the year-end were nil.

www.hospiscare.co.uk |

Notes to the Financial Statements (for the year ended 31 March 2022)

17.Debtors

Group 2022
£		 Group 2021
£		 Charity 2022
£		 Charity 2021
£
Due within one
year
Trade debtors 146,540 237,492 171,009 245,909
Amounts owed by
group
undertakings		 - - 182,498 445,324
Other debtors 82,507 363,235 58,139 47,197
Prepayments and
accrued income		 2,695,672 442,503 2,662,193 404,095
Total 2,924,719 1,043,230 3,073,839 1,142,525

18. Creditors: Amounts Falling due within One Year

Group 2022
£		 Group 2021
£		 Charity 2022
£		 Charity 2021
£
Trade creditors 392,529 368,975 363,782 341,647
Other taxation
and social
security		 124,942 122,115 112,000 111,406
Other creditors 102,385 91,734 66,241 62,779
Accruals and
deferred income		 225,192 159,232 225,192 159,232
Total 845,048 742,056 767,215 675,064
Deferred income
Deferred income
at 1 April 2021		 11,059 32,269 11,059 32,269
Resources
deferred during
theyear		 73,687 - 73,687 -
Amounts released
from previous
periods		 (11,059) (21,210) (11,059) (21,210)
Deferred income pri
Total		 marily relates to lotte
73,687		 ry tickets sold in adv
11,059		 ance.
73,687		 11,059

19. Provisions

Group

Dilapidations
£
At 1 April 2021 170,715
Additions 16,075
Total 186,790

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Notes to the Financial Statements (for the year ended 31 March 2022)

Dilapidations

The Group dilapidations provision is based on the future expected repair costs required to restore the leased buildings to their fair condition at the end of their respective lease terms.

The Charity has no provisions.

20.Statement of Funds

Statement of Funds – Current Year

Balance at
1 April 2021
£		 Income
£		 Expenditure
£		 Transfers
in/out
£		 Gains/(
Losses)
£		 Balance at
31 March
2022
£
Unrestricted
funds
Designated
funds
Capital 4,387,654 - (268,799) 96,140 - 4,214,995
Stability &
working
capital		 3,000,000 - - 400,000 - 3,400,000
Budgeted
deficit 22/23		 - - - 2,400,000 - 2,400,000
COVID-19
reserve		 1,800,000 - - (1,800,000) - -
Hospiscare@
Home		 - - - 1,060,540 - 1,060,540
Total 9,187,654 - (268,799) 2,156,680 - 11,075,535
General
funds
General
reserves		 809,854 10,860,553 (7,781,181) (2,156,680) 224,304 1,956,850
Total
unrestricted
funds		 9,997,508 10,860,553 (8,049,980) - 224,304 13,032,385
Endowment
funds
Endowment
funds – all
funds		 20,000 - - - - 20,000

On 1 April 2009, under an arrangement agreed with the Charity Commission, the activities, assets and liabilities of a separate charity were merged with Hospiscare. £20,000 represents the permanent endowment capital. Income arising therefore is unrestricted.

www.hospiscare.co.uk |

Notes to the Financial Statements (for the year ended 31 March 2022)

Balance at 1 April
2021
£		 Income
£		 Expenditure
£		 Transfers
in/out
£		 Gains/(
Losses)
£		 Balance at
31 March
2022
£
Restricted
funds
Medical
research fund		 63,492 6,850 (10,120) - - 60,222
Dementia
project		 - 35,744 (35,744) - - -
Early referral
research fund		 47,940 - - - 47,940
Hospiscare
Exmouth and
Lympstone		 2,271,275 79,879 (633,908) - 25,425 1,742,671
Other
restricted
funds		 - 2,500 (7,314) 7,500 - 2,686
LGBTQ+
project		 21,435 - (3,140) - - 18,295
Fundraising 2,810 373,933 (363,043) (7,500) - 6,200
Hospiscare@
Home		 265,674 523,105 - - - 788,779
Hospice UK - 629,703 (629,703) - - -
Total
restricted
funds		 2,672,626 1,651,714 (1,682,972) - 25,425 2,666,793
Total of
funds		 12,690,134 12,512,267 (9,732,952) - 249,729 15,719,178

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Notes to the Financial Statements (for the year ended 31 March 2022)

Designated Funds

Capital

held in restricted funds.

Stability and Working Capital

in fundraising and legacy income and falls in the value of investments. The reserve has been increased in year reflecting the increased uncertainty in relation to fundraising and legacy income.

was identified during the budget setting process.

COVID-19 Reserve

This fund was set aside to cover additional costs incurred due to the COVID-19 pandemic. These costs are now being managed as business as usual and the reserve has been released.

General Reserves

This fund represents the free reserves of the Charity and are available for general use.

Hospiscare@Home

This fund is to support the ongoing delivery of the Exmouth and Lympstone and Hospiscare@Home services when the associated restricted reserves are fully utilised if additional funding is not identified.

This reserve (based on the latest forecast) provides funding if required until 2025/26.

Restricted Funds

Exmouth and Lympstone Hospiscare

This fund represents the net assets remaining following the transfer of assets from Exmouth and Lympstone Hospiscare in 2019 and includes income and gains from the underlying assets. The fund will be used to meet the costs of palliative care for persons terminally ill in the Exmouth and Lympstone area and to support those patients and their families.

Hospiscare@Home

This fund is to support the Charity’s plans to roll-out the service in the Mid and West Devon area.

Hospice UK

incurred during the 2021/22 finance year because of COVID-19.

Other Restricted Funds

about to commence.

www.hospiscare.co.uk |

Notes to the Financial Statements (for the year ended 31 March 2022) Statement of Funds – Prior Year

Balance at
1 April
2020
£		 Income
£		 Expenditure
£		 Transfers
in/out
£		 Gains/(Losses)
£		 Balance at
31 March
2021
£
Unrestricted
funds
Designated funds
Capital 4,573,062 - (393,664) 208,256 - 4,387,654
Stability & working
capital		 - - - 3,000,000 - 3,000,000
Budgeted deficit
2022/23		 533,500 - - (533,500) - -
Legacyreserve 500,000 - - (500,000) - -
COVID-19reserve 1,500,000 - - 300,000 - 1,800,000
Total 7,106,562 - (393,664) 2,474,756 - 9,187,654
General funds
General reserves 2,010,848 8,680,773 (7,746,553) (2,720,330) 585,116 809,854
Total unrestricted
funds		 9,117,410 8,680,773 (8,140,217) (245,574) 585,116 9,997,508
Endowment funds
Endowment funds 20,000 - - - - 20,000
Restricted funds
Medical research
fund		 60,346 7,251 (4,105) - - 63,492
Dementiaproject - 20,000 (20,000) - - -
Primary care grant
– palliative and
end-of-life care		 - 75,000 (75,000) - - -
Healthy Aging
Project		 - 58,700 (58,700) - - -
Early referral
research fund		 47,940 - - - - 47,940
Hospiscare
Exmouth and
Lympstone		 2,447,537 117,878 (641,428) - 347,288 2,271,275
Legacies 229,016 79,370 (308,386) - - -
Other restricted
funds		 715 - (715) - - -
LGBTQ+project - 24,055 (2,620) - - 21,435
Fundraising - 198,977 (196,167) - - 2,810
Hospiscare@Home - 20,100 - 245,574 - 265,674
Total 2,785,554 601,331 (1,307,121) 245,574 347,288 2,672,626
Total of funds 11,922,964 9,282,104 (9,447,338) - 932,404 12,690,134

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Notes to the Financial Statements (for the year ended 31 March 2022)

21. Analysis of Net Assets between Funds

Analysis of Net Assets between Funds – Current Year

Endowment Restricted funds
2022
£		 Unrestricted
funds 2022
£		 Total funds 2022
£
funds 2022
£
Tangible fixed
assets		 - 386,045 4,214,995 4,601,040
Fixed asset
investments		 - 1,708,963 3,884,382 5,593,345
Investment
property		 - 370,000 - 370,000
Current assets 20,000 201,785 5,964,846 6,186,631
Creditors due
within oneyear		 - - (845,048) (845,048)
Provisions for
liabilities and
charges		 - - (186,790) (186,790)
Total 20,000 2,666,793 13,032,385 15,719,178

Analysis of Net Assets between Funds – Prior Year

Endowment
funds 2021
£		 Restricted funds
2021
£		 Unrestricted
funds 2021
£		 Total funds 2021
£
Tangible fixed
assets		 - 396,682 4,387,654 4,784,336
Fixed asset
investments		 - 1,636,074 4,123,571 5,759,645
Investment
property		 - 370,000 - 370,000
Current assets 20,000 269,870 2,399,054 2,688,924
Creditors due
within oneyear		 - - (742,056) (742,056)
Provisions for
liabilities and
charges		 - - (170,715) (170,715)
Total 20,000 2,672,626 9,997,508 12,690,134

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Notes to the Financial Statements (for the year ended 31 March 2022)

22. Reconciliation of Net Movement in Funds to Net Cash Flow from Operating Activities

Group 2022
£		 Group 2021
£
Net income for the year (as p
Statement of Financial
Activities)		 er
3,029,044		 767,170
Adjustments for:
Depreciation charges 245,997 251,141
Gains on investments (249,729) (921,968)
Dividends, interests and ren
from investments		 ts
(128,723)		 (139,573)
Decrease in stocks 9,953 5,688
Increase in debtors (1,658,546) (126,322)
Increase in creditors 125,089 167,878
Net cash generated by
operating activities		 1,373,085 4,014

23. Analysis of Cash and Cash Equivalents

Cash in hand
Total cash and cash
equivalents		 Group 2022
£		 Group 2021
£
3,259,079 1,632,908
3,259,079 1,632,908

24. Analysis of Changes in Net Funds

At 1 April 2021
£		 Cash flows
£		 At 31 March 2022
£
Cash at bank and in
hand		 1,632,908 1,626,171 3,259,079
Total 1,632,908 1,626,171 3,259,079

| Because every day matters

Notes to the Financial Statements (for the year ended 31 March 2022)

25. Contingent Assets

there is probability of receipt. The estimated value of legacies, not included as income in these accounts and which have been notified but not received as at 31 March 2022, was £1,166,767 (2021:£702,611.)

26. Pension Commitments

separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group to the fund and amounted to £276,443 (2021: £259,238). Contributions totalling £49,944 (2021: £46,704) were payable to the fund at the balance sheet date and are included in creditors.

benefits to members, it is an unfunded multi-employer scheme, with no ongoing liability for the Charity beyond the level of employer contributions specified by the Scheme. Accordingly it is accounted for as if it was a defined contribution scheme. The pension cost charge represents contributions payable by the Group to the fund and amounted to £230,571 (2021: £238,091). Contributions totalling £20,361 (2021: £16,472) were payable to the fund at the balance sheet date and are included in creditors.

27. Operating Lease Commitments

Group 2022
£		 Group 2021
£		 Charity 2022
£		 Charity 2021
£
Not later than 1 year 300,395 314,060 288,820 302,485
Later than 1 year but not
later than 5 years		 787,983 846,307 787,983 846,307
Later than 5 years 25,575 154,428 25,575 164,428
1,113,953 1,324,795 1,102,378 1,313,220

28. Related Party Transactions

The Charity is taking advantage of the exemption allowed under FRS102 from the requirement of Section 33 “Related Party Disclosures” not to disclose related party transactions with members of the Group. There are no other related party transactions other than those disclosed in note 13. There were no amounts outstanding from any Trustee at the year end.

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